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Ionut Costea Takes Helm Of Romanian Lender Eximbank

Ionut Costea is the new president of Romanian state-owned lender Eximbank, taking the helm from Carmen Radu, after the bank’s main shareholder, the country’s Privatization Authority AVAS, replaced six of the bank's seven board members.
Ionut Costea Takes Helm Of Romanian Lender Eximbank
23 feb. 2009, 16:32, English

Costea, the brother in law of Romanian social democrat leader Mircea Geoana, is currently the president of Emporiki Bank Romania since last fall.

EximBank’s board of directors, which consists of a president, Carmen Radu, two vice-presidents, Iulian Velicu and Tudor-Gabriel Bohalteanu, and four members Stefan Gelu Diaconu, Emanoil Negut, Emilian Badica and Florin Roman, will continue to function until the new management takes over.

The bank’s vice-president Iulian Velicu said the current management will still lead the institution for 20 days until the central bank approves the new board.

Carmen Radu was named as president of Eximbank in March 2005, after it held the position of deputy general manager of the budget debt collecting unit within the Finance Ministry.

AVAS owns 95.37% of Eximbank’s capital, while the five investment funds, or SIFs, own the rest.